The United States Department of Justice (DOJ) announced on July 10, the unsealing of a quadruple charge against Soufiane Oulahyane for a scheme to impersonate the OpenSea marketplace to gain unauthorized access to cryptocurrency and non-fungible tokens (NFTs).
Oulahyane, currently in custody in Morocco on foreign charges, reportedly stole around $450,000 worth of cryptocurrency and NFTs.
OpenSea NFT theft
Soufiane Oulahyane, the alleged hacker who stole $450,000 worth of cryptocurrency NFTs from a victim in Manhattan, sold several NFTs that belonged to the victim, according to the suit filed by the US Department of Justice.
The NFTs sold by Oulahyane included pieces from such popular series as ‘Bored Ape Yacht Club’, ‘Meebit’, ‘Bored Ape Kennel Club’ and ‘CryptoDad’.
According to the press release, Oulahyane allegedly used a scheme to “spoof” the login page to the OpenSea marketplace by creating a fake website that looked like the real thing. He used paid advertisements on a popular search engine to direct users to his fake website, where he tricked them into entering their login credentials or other private information.
The information was automatically sent to an email account controlled by Oulahyane, who used it to gain unauthorized access to the victims’ cryptocurrency wallets.
Oulahyane faces charges of wire fraud, using an unauthorized access device, influencing transactions with an access device to receive anything of value equal to or greater than $1,000, and aggravated identity theft.
If convicted, Oulahyane could face up to 20 years in prison for wire fraud, 10 years for using an unauthorized access device, 15 years for influencing transactions with an access device and a mandatory two-year consecutive sentence for aggravated identity theft.
In addition, according to the press release, the DOJ emphasizes that digital assets, such as cryptocurrency and NFTs, are not immune to cyber fraudsters.
The charges against Oulahyane are a reminder that cybercrime techniques such as “spoofing” are still in use and could be adapted for use in the cryptocurrency space. The DOJ is committed to prosecuting these fraudsters in the US and abroad.
This indictment demonstrates that law enforcement agencies take cybercrime in the cryptocurrency space seriously and are willing to prosecute individuals who engage in fraudulent activity. It is essential for users to exercise caution when handling digital assets and to take the necessary security measures to protect their cryptocurrency wallets and NFTs from cybercriminals.
Featured image of Unsplash, chart from TradingView.com
